AppFolio, Inc. (NASDAQ:APPF) Shares Sold by MML Investors Services LLC

MML Investors Services LLC lessened its stake in AppFolio, Inc. (NASDAQ:APPF) by 12.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 919 shares of the software maker’s stock after selling 127 shares during the period. MML Investors Services LLC’s holdings in AppFolio were worth $216,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its position in AppFolio by 0.9% in the second quarter. Brighton Jones LLC now owns 5,805 shares of the software maker’s stock valued at $1,420,000 after purchasing an additional 49 shares during the period. Blue Trust Inc. raised its stake in shares of AppFolio by 85.7% during the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after buying an additional 54 shares in the last quarter. Northwest & Ethical Investments L.P. lifted its holdings in shares of AppFolio by 16.0% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 725 shares of the software maker’s stock valued at $171,000 after buying an additional 100 shares during the period. ProShare Advisors LLC boosted its stake in shares of AppFolio by 2.9% in the second quarter. ProShare Advisors LLC now owns 3,630 shares of the software maker’s stock valued at $888,000 after buying an additional 102 shares in the last quarter. Finally, KBC Group NV grew its holdings in AppFolio by 22.1% during the third quarter. KBC Group NV now owns 618 shares of the software maker’s stock worth $145,000 after acquiring an additional 112 shares during the period. 85.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AppFolio

In related news, CEO William Shane Trigg sold 3,500 shares of AppFolio stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $229.85, for a total value of $804,475.00. Following the transaction, the chief executive officer now owns 74,327 shares of the company’s stock, valued at approximately $17,084,060.95. This trade represents a 4.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Matthew S. Mazza sold 926 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $229.04, for a total transaction of $212,091.04. Following the sale, the insider now owns 33,819 shares in the company, valued at $7,745,903.76. This represents a 2.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,768 shares of company stock valued at $5,744,891 over the last 90 days. 5.24% of the stock is currently owned by corporate insiders.

AppFolio Price Performance

AppFolio stock opened at $252.45 on Friday. AppFolio, Inc. has a 12 month low of $164.29 and a 12 month high of $274.56. The company has a fifty day moving average price of $237.55 and a two-hundred day moving average price of $234.28. The company has a market cap of $9.17 billion, a PE ratio of 70.32 and a beta of 0.86.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.26. The business had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The business’s revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the business posted $0.26 EPS. Equities research analysts anticipate that AppFolio, Inc. will post 3.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Piper Sandler lowered their target price on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. KeyCorp lowered their price target on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods cut AppFolio from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $255.00 to $193.00 in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $261.75.

AppFolio Profile

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.